MoneyGram, a global leader in cross-border payments and financial services, has signed a Memorandum of Understanding (MoU) with D360 Bank, a Saudi digital bank, in order to advance digital financial solutions in the Kingdom.
The agreement, signed during Money 20/20 Middle East, highlights both organizations’ commitment to supporting Saudi Vision 2030’s financial sector development goals through enhanced digital infrastructure and innovative payment technologies.
The collaboration will center on enhancing cross-border payment capabilities and delivering innovative digital financial solutions to customers across Saudi Arabia.
By leveraging MoneyGram’s trusted global payments network and D360 Bank’s position as a Saudi digital bank backed by the Public Investment Fund and Derayah Financial, the partnership aims to expand customer choice, improve convenience, and accelerate the Kingdom’s shift toward a cashless, digitally empowered economy.
Ahmed Aly, Head of Middle East, South Asia, and Asia Pacific at MoneyGram, said that, “This new partnership with D360 Bank reflects our commitment to leading the evolution of cross-border payments in Saudi Arabia. Together, we are creating new pathways for customers to move money seamlessly across borders, reinforcing our shared ambition to shape the future of payments in the kingdom, while delivering greater convenience and confidence to every customer we serve.”
“At D360 Bank, our mission is to make banking intuitive, accessible, and technology-driven. Partnering with MoneyGram connects our customers to one of the world’s largest global payment networks, enabling fast, transparent, and secure international remittances,” noted Osama Alshathri, Head of Retail Banking at D360 Bank.
The signing of this MoU builds on MoneyGram’s long-term commitment to customers in Saudi Arabia, where the company continues to work with banks, fintechs, and digital platforms to broaden access to global remittances, as per the statement.
